Point of Service (POS) terminals are used extensively throughout the United States by merchants of services and merchandise to facilitate the authorization and consummation of sales transactions with consumers using charge cards, credit cards, debit cards and the like. As the feature set of POS terminals and associated peripheral devices expands, the use of POS terminals is expected to largely supplant or even replace the use of cash and checks in many contexts.
Presently known POS terminals generally include at least a minimum set of features and capabilities. For example, a typical POS terminal is suitably capable of constructing an authorization message, and dialing up a predetermined destination over a conventional telephone line to communicate with a central computer to thereby authorize a particular sales transaction. Once the transaction is consummated, the POS terminal transmits another message to the host computer whereupon the information relating to the transaction is stored in the host computer. At the end of a business cycle, typically at the end of a business day, the POS terminal again dials up the host computer and reconciles the day's transactions so that the records maintained by the merchant correspond with the records maintained at the host computer.
In many contexts, it is preferable to configure the POS terminal to print a transaction record, for example a receipt, which is typically printed on at least two copies: a first copy for the consumer, which functions as the consumer's receipt, and a second copy maintained by the merchant for his accounting records.
Presently known POS terminals are often equipped with one or more peripheral devices, for example a printer module for printing the aforementioned receipt, a keypad module for permitting a consumer to discretely enter his secret personal identification number (PIN) out of the merchant's view, and the like. In view of the highly cost competitive environment in which POS terminals are currently distributed, enhanced feature sets and low cost are important purchase considerations.
Presently known POS terminals which employ a separate, typically dedicated printer module are disadvantageous in several respects. In the first instance, a printer module requires a separate housing, processor, power connection, and the like, thereby increasing the cost of the POS/printer combination. Moreover, even though a separate, remote printer module may be quickly detached from the POS terminal and replaced if the printer module breaks down, this requires the merchant to either keep a separate printer module on hand, or to manually write out receipts until another module can be obtained. Due to the relatively high cost of stand alone printer modules, keeping additional print modules on hand can be prohibitively expensive, particularly for small businesses.
A POS terminal and printer system is thus needed which overcomes the shortcomings of the prior art.